Fed's Fischer to Step Down in Mid-October

The transcript discusses the resignation of Stanley Fischer from the Federal Reserve and its impact on the board, highlighting the resulting vacancies and potential effects on monetary policy. It speculates on the reasons for Fischer's departure and touches on the uncertainty surrounding Gary Cohn's potential nomination as Fed chair, considering political dynamics and loyalty issues.

Discuss the potential impact of having more Reserve Bank presidents voting than governors on the FOMC.

What factors could have contributed to Fischer's decision to resign?